BankMuscat Board of Directors approves organization restructuring plan

This is expected to result in significant changes to the bank's current organization structure, particularly at senior management levels.

The restructuring process, which was initiated last year, will help the bank focus greater energies on key and emerging customer segments in Oman and across the region. It is also expected to ensure that the bank has the 'right people' heading the 'right business lines', in keeping with the future growth strategy of the bank. BankMuscat has time and again reiterated that it is committed to becoming one of the foremost banks across the region by the turn of the decade.

The process, which is being conducted in BankMuscat's trademark style of transparency and professionalism, will witness senior management personnel at the bank being provided with the opportunity to apply for up to three positions in the new organization structure, including their current job descriptions. Several young professionally qualified Omanis are also expected to apply for these positions. These applications, in turn, will be scrutinized by a committee comprising representatives from the BankMuscat Board, Executive Management and Booz Allen Hamilton and then result in a series of meetings with the professionals in question. More than one person is expected to apply for several key positions within the organization.

The positions which have already been 'approved' by the Board of Directors are those of the Chief Executive, Mr AbdulRazak Ali Issa, Deputy Chief Executive, Mr Sunder George and Chief Operating Officer, Mr Ahmed Al Abri, who earlier held the designation of General Manager - Banking within the organization.

While it is understood that the process of interviews within the organization is currently limited to the senior management pool of the bank, changes are expected to take place across almost all managerial levels.